Developer Soho China (0410.HKG) is leading a group in talks to buy a 40% stake in the General Motors (GM.NYSE) tower in Manhattan, The Wall Street Journal reported. The price under negotation would value the building at roughly US$3.4 billion including debt, said real-estate executives with knowledge of the talks, ranking this as the most valuable tower in the US. The potential deal would be one of the largest purchases of a single US property by a Chinese investor. A group of Middle Eastern sovereign-wealth funds currently own the stake; Boston Properties (BXP.NYSE) will continue to control the remaining 60%.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved